All categories

2 years ago

1. How much interest would you pay on a loan of $1,230 for 15 months at 15 percent APR if the interest is 18.75 per $100?

1 answer:

7 0

1. How much interest would you pay on a loan of $1,230 for 15 months at 15 percent APR if the interest is 18.75 per $100?

The chart probably refers to interest per $100 of loan. So, the interest for a $1,230 loan would be (1230/100) * 18.75 = 230.625 ~ 230.63
So, the answer will be B $230.63.

2. Sherri borrowed $3,200 at 13 percent APR for 18 months. If she must pay 19.5 per $100, what is the total interest?
3,200 / 100 = 32 ... x 19.5 = 624
Principal x int rate x time = 3200 x .13 x 1.5 yr = 624 interest

So, the answer will be the A $624.

3. What is the total amount that Sherri (in question number 2) will repay?

The correct answer will be the $3,824.

You might be interested in

Tina's Track Supply's market-to-book ratio is currently 4.5 times and PE ratio is 10.5 times. If Tina's Track Supply's common st

otez555 [7]

Answer:

$22.2222, $9.5238, respectively

Explanation:

The market-to-book ratio is given by a share's market value divided by its book value, if shares are selling for $100 on the market, the book value is:

$B = \frac{\$100}{4.5}=\$22.2222$

The price to earnings ratio (PE ratio) is determined as a share's price divided by the earnings per share. Earnings per share are:

$E=\frac{\$100}{10.5}\\E=\$9.5238$

The book value per share and earnings per share are $22.2222, $9.5238, respectively

5 0

2 years ago

Use the PACED decision-making process to make the decision for Brent. Show your work.

NikAS [45]

Answer:

se the PACED decision-making process to make the decision for Brent. Show your work

Explanation:

7 0

2 years ago

Nora has heard that opening a lot of credit card accounts is a good way to build credit. She currently has five cards, but is so

Sladkaya [172]

This is a bad move. You should work on getting a high credit score on one card not multiple.

8 0

2 years ago

Chang Industries has 2,000 defective units of product that already cost $14 each to produce. A salvage company will purchase the

lidiya [134]

Answer:

A sunk cost is the correct answer to this question.

Explanation:

Sunk cost:- Sunk costs are those expenses that have been accumulated in the past and are thus in some way unrelated to judgment-making.

In the question referred to above, the company has already made $14 to produce. This cost will be inconsequential even if the company makes the units as it is or procedures them further.

As a result, $14 is a sunk expense.

Other options are incorrect because they are not related to the given scenario.

5 0

2 years ago

A proposed project has fixed costs of $83,000 per year. The operating cash flow at 9,100 units is $ 102,900. Ignoring the effect

natta225 [31]

Answer:

Ignoring the effect of taxes, what is the degree of operating leverage?

1.81

If units sold rise from 9,100 to 9,500, what will be the increase in operating cash flow?

$8,171.43 or 7.94%

what is the new degree of operating leverage?

1.75

Explanation:

degree of operating leverage = (units sold x contribution margin) / [(units sold x contribution margin) - fixed costs]

(units sold x contribution margin) - fixed costs] = $102,900

units sold x contribution margin = $102,900 + $83,000 = $185,900

degree of operating leverage = $185,900 / $102,900 = 1.81

contribution margin = $185,900 / 9,100 = $20.4286

operating cash flow (at 9,500 units) = (9,500 x $20.4286) - $83,000 = $111,071.43

operating cash flow will increase by $8,171.43 or 7.94%

new degree of operating leverage = $194,071.43 / $111,071.43 = 1.75

8 0

2 years ago